Russia’s finance ministry proposed introducing extra progressive income tax rates for those earning more than 2.4 million roubles annually, as well as raising the mineral extraction tax for fertiliser and iron ore producers.
U.S. President Joe Biden declared that Hamas is no longer capable of carrying out a major terror attack on Israel and called for a permanent cease-fire in Gaza. Biden supported an Israeli proposal for a three-phase plan, including a six-week cease-fire, withdrawal of Israeli forces from populated areas of Gaza, and the exchange of hostages for Palestinian detainees. Biden also warned Israel of potential global isolation.
Russia has announced changes to its tax system, moving from a flat to a progressive system by 2025. The upper rate of income tax will rise from 15% to 22% and for corporate taxes from 20% to 25%. These changes are expected to reduce the budget deficit caused by increased military spending but may not be enough to prevent economic overheating. The tax hikes are modest compared to military and defense spending, which is 6% of GDP and rising. The overall fiscal stance remains expansionary, challenging the central bank’s efforts to combat inflation. Russia’s budget deficit is expected to halve this year and remain flat in 2025, while growth forecasts vary with some predicting modest growth and others more upbeat figures.
Russia has announced changes to its tax system, including a shift to a progressive income tax system in 2025, with the upper rate increasing from 15% to 22% and corporate taxes from 20% to 25%. These changes are expected to reduce the budget deficit caused by increased military spending.
Egypt has detained students promoting pro-Palestinian boycotts and solidarity campaigns, along with many others protesting against Israel’s military campaign. At least 125 people have been arrested since the Gaza war began in October, with 95 still in pre-trial detention. The crackdown on dissent in Egypt has intensified since 2013, with tens of thousands arrested for speaking out against the government. Public demonstrations are outlawed, and authorities fear protests over the Israeli-Palestinian conflict could fuel political dissent.
Fourteen migrants are stranded in the buffer zone near the University of Cyprus campus in Aglantzia, unable to enter government-controlled areas due to the temporary suspension of asylum applications by the Republic of Cyprus. The group includes women and children from Afghanistan, Sudan, Cameroon, and Iran, with assistance being provided by the UNFICYP and UNHCR. Patrols have been increased along the buffer zone to deter migrant arrivals, resulting in a 95% decrease in arrivals by boat from Syria. Pushbacks in Lebanese waters have contributed to this decrease, but the Mediterranean crossing remains the deadliest route for migrants. The U.N. human rights office has reported gross human rights violations faced by Syrian refugees returning to Syria, including torture, abduction, sexual harassment, and violence. Pushbacks are measures used by states to force refugees and migrants out of their territory, circumventing international protection safeguards.
The Pentagon is committed to delivering humanitarian aid to Gaza despite damage to the temporary pier off the coast. The Israeli Defense Forces are clearing the pier for repairs, expected to take over a week. The damaged pieces have been transported to Ashdod port for reconstruction. The cause of the damage was a recent storm from North Africa, but calmer seas are expected. Efforts are being made to find alternative routes for aid from Cyprus to reach Gaza. Over 1,000 metric tons of aid had been delivered prior to the damage.
16 people were killed and 35 wounded in U.S. and British strikes on Yemen’s Hodeidah province. The strikes targeted a radio building in Al-Hawk district and port of Salif. The U.S. and British militaries launched strikes against Houthi targets in Yemen to deter the militant group from disrupting shipping in the Red Sea.
Cyprus has condemned the recent Israeli strikes on Rafah, expressing grief over the devastation and loss of civilian lives, including children. They called for an immediate ceasefire and the release of all hostages, emphasizing the need to respect International Humanitarian Law.
Stacy Gilbert, a U.S. State Department official, resigned in protest after a report to Congress falsely claimed that Israel was not blocking humanitarian aid to Gaza. Gilbert, who worked in the Bureau of Population, Refugees, and Migration, stated that the report’s conclusions were incorrect. The report was submitted in accordance with a new National Security Memorandum issued by President Joe Biden. Gilbert’s resignation came after she disagreed with the final version of the report, which she believed did not accurately reflect the situation in Gaza.